annual report - Harvey Norman Company Reports & Announcements

DIRECTORS‟ REPORT (CONTINUED)
Remuneration Report (Audited) (continued)
TABLE 1: Compensation of Key Management Personnel for the Year Ended 30 June 2012 - Directors of Harvey Norman Holdings Limited:
28
Salary &
fees
$
Short Term Benefits Post-
Employment
Perform- Other Non Superance
Cash Short- monetary annuation
Incentive $ Term $ benefits $ $
Share-Based Payments Total Remuneration
Value of
Shares
$
Value of
Options
$
TOTAL
$
Reversal of
Options
Expense
(b)
G. Harvey 2012 723,825 285,000 10,400 - 15,775 - - 1,035,000 - 1,035,000 -
Executive Chairman 2011 724,401 400,000 10,400 - 15,199 - - 1,150,000 - 1,150,000 -
K.L. Page 2012 1,442,830 300,000 - 41,395 15,775 - - 1,800,000 - 1,800,000 -
Exec Director / CEO 2011 1,441,677 500,000 - 43,124 15,199 - - 2,000,000 - 2,000,000 -
J.E. Slack-Smith 2012 1,210,525 325,000 - 23,700 15,775 - 263,913 1,838,913 (210,617) 1,628,296 3.3%
Exec Director / COO 2011 1,201,839 500,000 - 32,962 15,199 - 139,544 1,889,544 - 1,889,544 7.4%
D.M. Ackery 2012 1,216,225 325,000 18,000 - 15,775 - 263,913 1,838,913 (210,617) 1,628,296 3.3%
Executive Director 2011 1,216,801 500,000 18,000 - 15,199 - 139,544 1,889,544 - 1,889,544 7.4%
C. Mentis 2012 882,338 220,000 - 51,887 15,775 - 263,913 1,433,913 (210,617) 1,223,296 4.4%
Exec Director / CFO 2011 888,279 350,000 - 46,522 15,199 - 139,544 1,439,544 - 1,439,544 9.7%
A.B. Brew (a) 2012 - - - - - - - - - - -
2011 68,816 - - 5,195 2,533 - - 76,544 - 76,544 -
M.J. Harvey 2012 110,092 - - - 9,908 - - 120,000 - 120,000 -
Non-Executive Dir 2011 110,092 - - - 9,908 - - 120,000 - 120,000 -
C.H. Brown 2012 110,092 - - - 9,908 - - 120,000 - 120,000 -
Non-Executive Dir 2011 110,092 - - - 9,908 - - 120,000 - 120,000 -
I.J. Norman 2012 18,349 - - - 1,651 - - 20,000 - 20,000 -
Non-Executive Dir 2011 18,349 - - - 1,651 - - 20,000 - 20,000 -
K.W. Gunderson –
Briggs
2012
110,093
-
-
-
Non-Executive Dir 2011 109,646 - - - 10,354 - - 120,000 - 120,000 -
G.C.Paton 2012 110,092 - - - 9,908 - - 120,000 - 120,000 -
Non-Executive Dir 2011 110,500 - - - 9,500 - - 120,000 - 120,000 -
TOTAL
TOTAL
2012
2011
5,934,461
6,000,492
1,455,000
2,250,000
28,400
28,400
116,982
127,803
9,907
120,157
119,849
-
-
-
-
791,739
418,632
120,000
8,446,739
8,945,176
-
(631,851)
-
TOTAL
$
120,000
7,814,888
8,945,176
(a) Mr Brew retired as director of Harvey Norman Holdings Limited on 1 September 2010. The 2011 remuneration for Mr Brew disclosed in Table 1 above is for the period from 1 July
2010 up to the date of retirement, 1 September 2010. Mr. Brew remains an executive employee of Yoogalu Pty Limited, a wholly-owned subsidiary of the Company.
(b) Certain performance conditions in respect of the First Tranche of Options were not satisfied. On 13 June 2012, the Board determined that options over 966,000 shares granted in
respect of the First Tranche of Options had lapsed. This resulted in the reversal of the cumulative share based payments expense recognised in respect of the First Tranche of
Options totalling $631,851, of which $399,388 was recognised in the year ended 30 June 2012 and $232,463 was recognised in the year ended 30 June 2011.
The listed parent entity, Harvey Norman Holdings Limited, does not have any employees.
% of
options
-
2.05%
4.7%